Sovos noted that Brazil is one of the most complex tax environments in the worlds with Fit Sistemas serving industries including telecom, retail, agriculture, media and financial services The acquired company’s applications integrate with financial applications that include SAP, NetSuite, Totvs, Sintel, CITEL and IFS and integrate data flow and process validation and also the authorization of outbound and inbound invoices to meet a variety of Brazilian governmental requirements. Sovos noted Brazil introduced reporting rules for digitizing paper invoices in records in 2008 but has frequently changed rules.
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SOVOS BUYS BRAZIL TAX UNIT Featured
Sovos has acquired Fit Sistemas, a company that provides tax reporting capabilities in Brazil. Terms were not disclosed.
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